So it's important to know this going in.Not to split hairs, but improving NOI doesn't change the cap rate, it increases your value. 

I have chosen to focus on MHP as a more recession resistant asset class, along with conservative underwriting and low leverage, which will all contribute to the ability to weather the next down cycle.

The real benefit will be the ability for those who are able to move often to keep buying and living in a property for at least a year, then moving on to buy another to start it all over again.

There is nothing wrong with that.It is all about leveraging "knowing your abilities" and "keeping realism in check". 

The problem is to achieve this actual cashflow you need to have the ability to hold the property until rents appreciate.

Well, IMO, if you truthfully and totally disclose your intentions and ability to perform (or lack thereof) UPFRONT, then it is ethical.4.  

Most important to me would be their desire and ability to fulfill the terms of our rental agreement.

Orlando passed some laws/ordinances regarding STR and limiting the ability of folks to do so without registering with the state something to the effect of $275.

These "grey-hairs" can also steer you toward the other critical team members you'll need, including attorneys, insurance brokers, mortgage brokers, and contractors.Once you do this you won't be alone for long!

I personally stay away from them unless I have the ability to to cash flow very well or a few exit strategies.